Cash interest rates
The below interest is paid on cash balances held in British Pounds and US dollars, with each tiered interest rate being applied to your credit balance in that specific tier. Interest rates on Euro balances are noted separately below.
Cash held in different currencies is treated separately for the purposes of calculating interest, even if held within the same account. Only British Pounds can be held in an ISA account.
Cash held in an ii ISA, Junior ISA, Trading Account and SIPP is treated separately on an individual account basis.
Current rates
Cash held in an ISA and Junior ISA
| Cash Balance | Gross % | AER % |
|---|---|---|
| On the first £10,000 | 2.00 | 2.02 |
| On the value between £10,000.01 - £100,000 | 2.75 | 2.78 |
| On the value between £100,000.01 - £1,000,000 | 3.75 | 3.82 |
| On the value over £1,000,000 | 4.75 | 4.85 |
Cash held in a Trading Account
| Cash Balance | Gross % | AER % |
|---|---|---|
| On the first £10,000 | 2.00 | 2.02 |
| On the value between £10,000.01 - £100,000 | 2.75 | 2.78 |
| On the value between £100,000.01 - £1,000,000 | 3.75 | 3.82 |
| On the value over £1,000,000* | 4.75 | 4.85 |
* For US dollar balances held in Trading Accounts, ii will pay 5% (5.12% AER) on the value over £1,000,000.
Cash held in a SIPP
| Cash Balance | Gross % | AER % |
|---|---|---|
| On the first £10,000 | 3.00 | 3.04 |
| On the value between £10,000.01 - £100,000 | 3.75 | 3.82 |
| On the value between £100,000.01 - £1,000,000 | 4.00 | 4.07 |
| On the value over £1,000,000* | 4.75 | 4.85 |
* For US dollar balances held in SIPPs, ii will pay 5% (5.12% AER) on the value over £1,000,000.
Cash balances held in Euros
| Cash Balance | Gross % | AER % |
|---|---|---|
| Trading Account | 2.00 | 2.02 |
| SIPP | 3.00 | 3.04 |
Gross interest and AER
All interest will be paid gross of income tax and it is your responsibility to account for any tax payable on such interest (unless we are required by law to deduct tax).
AER stands for Annual Equivalent Rate and shows the interest rate you receive over the year taking into account the effect of compounding interest payments.
Information about interest rates
Beyond the specific subscription fee(s) for operating one of more of our Services, there are no charges for you to hold money in your Account(s). We receive interest from the bank(s) with which we deposit client money. Any interest received on such balances belongs to us.
Separately, we will pay interest to you on your daily cleared credit balance at rates determined by us, as are set out from time to time on the Website.
Interest on US Dollar balances is calculated using the values equivalent to £10,000, £100,000 and £1,000,000 determined at the start of each calculation period.
When is interest paid?
Interest will become due and payable at the point it is credited monthly on or around the 25th day of each month.
If your account is closed by you or us, no interest will be due or payable from the date on which interest was last credited to your account and the date of closure.
If you do not wish to receive interest for any reason, please contact us.
Important information - investment value can go up or down and you could get back less than you invest. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of the product you should contact HMRC or seek independent tax advice.